Almost $7 BILLION in debt??
Holy fuck.
Good thing we didn’t need the tens of thousands of manufacturing jobs they used to provide.
http://finviz.com/quote.ashx?t=EK&ty=c&ta=0&p=m
OH SNAP! They just never got a niche in with digital and as we know…digital is “the future” AKA NOW. 
$25 per share pre-depression, .55 cents per share now.
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That was probably one of their downfalls I bet. I don’t know that much about them but I suspect they outsourced less than their competitors. This is how America rewards companies that seem to understand if we don’t have workers we cannot have consumers.
Trying to compete against China is hard enough but trying to do it in New York is suicide. Wait what?
Question now is what’s up with the pensions? $7 BILLION in debt will make it impossible to cover commitments to retirees after the bankers get their recovery.
In b4 “too big to fail”. 8/
PBS just said they have enough money for pensions and it is protected under chaptor 11. :gotme: maybe the pension is part of the debt since it is allocated already.
I hope PBS is correct, I don’t believe they are. Maybe Kodak won’t cease to pay out, but I can envision ongoing cuts to the benefits.
Time will tell.
I have a feeling they also pay their staff wayyyy to much I talked a recruiter from them a couple years ago and wanted to pay 90k a year for some random ass IT job.
Cant wait to buy their stock when they emerge from BK.
Sell puts. Low max risk with price this low and if you can nab any premium it lowers your risk that much further. OPM…other people’s money to lower cost basis is investing LIKE A BOSS! 8)
YESSS OPM!
Failure to capitalize on the digital camera is what caused the downfall of Kodak and the sad part is…they invented it.:fail:
True story. I remember they kicked off strong but as the megapixels grew they disappeared in the shadow of Canon and others.
lol @ you “it’s the damn chinese” people. Kodak failed to move to digital cameras and decided to stubbornly push forward with their film market. It almost killed them. Just a few months ago there was an article about how most of the major movie theaters were switching to digital distribution of movies and one of the heads at Kodak was interviewed. Their response? “We believe celluloid film will remain popular for some time and that’s where we’ve been putting our resources. We are not pursuing digital movie projectors”.
Fool me once, shame on you. Fool me twice, enjoy your chapter 11 you morons.
And where are they going to concentrate their efforts now that they have chapter 11 protections from debt? Printers. Yeah, those things that take your digital stuff and put it on that most analog of mediums… paper. In a society that is pushing more and more toward being paperless. :ham:
^Yup. Kodak was a film company, not a camera company. They made their money selling lots and lots and lots of film. Then they rendered film obsolete, and failed.
I know of a company that made parts for their X-ray film. It was thought that third world countries would be using the “old” equipment from the US for years. One miscalculation may have been that those countries would buy film from the U$A.
how many people in rochester will be affected by this?
we should have a business section for this stuff… lots in interesting dialogue could be had. BED could post too.
Yo dawg, can I get another loan? I’ll pay you back 6 billion next week, I swear.
Funny.
They are already down to 6k employees from a high of 60k in the 1980s, so this will definitely have an impact but not the epic one it would have been if they had gone belly up a few decades ago